EPFO has invested the amount for 25 years at 8.03% interest and this is first time when NHAI has issued bond for such a long period. NHAI sources said this is first tranche and they are eyeing more such investment from both EPFO and Life Insurance Corporation (LIC). A team of NHAI's top officials held negotiations with LIC in Mumbai for the past two days to get investment for long term.

NHAI has a target to raise at least Rs 50,000 crore during this financial year to meet its requirement of fund for highway expansion. "Both EPFO and LIC have agreed in principle to invest and we will tap more funds as and when we require," NHAI chairman Raghav Chandra told TOI.

For over a year, NHAI and highways ministry have been engaging with the EPFO to get its fund for 20-25 years. The highway authority is trying options including masala bond. The road transport ministry has set a target of awarding 15,000 km highways for NHAI. The total budgeted outlay for road sector in 2016-17 is Rs 103,286 crore, of which budget support is Rs 44,007 crore. The remaining Rs 59,279 crore is expected to come from intra and extra-budgetary resources.